FORT LAUDERDALE, Fla., Dec. 11, 2012 (GLOBE NEWSWIRE) -- Enviro Voraxial Technology, Inc. (OTCBB:EVTN) announced today that it has received another multi-unit purchase order for its high volume Voraxial® Separators. The Voraxial® 2000 Separator System and Voraxial® 4000 Separator will be installed at the customer's production facility for bulk oil/water/solids separation. This is the first order EVTN has received from this customer, one of the largest National Oil Companies inLatin America. Discussions are underway for potentially more units in different locations.
The Voraxial® 2000 System and Voraxial® 4000 Separator, designed to be installed for both onshore and offshore platforms, will be utilized for the separation of oil and sand from produced water at the customer's onshore production facility. Produced water is a major issue for oil companies as it comprises over 98% of the total waste volume generated by the oil and gas industry. It is estimated that over 211 million barrels of water need to be treated each day in the oil industry. EVTN's growing penetration into the oil & gas market is resulting in increased sales and deployments. EVTN is expecting to achieve additional installations in 2013 as the Voraxial® Systems are being deployed for both offshore and onshore production facilities in various applications, including produced water, fracturing, refinery and tar sands.
"We believe that the Voraxial's® continued exposure to the industry, coupled with these installations and our growing relationships with our customers will result in more project opportunities and deployments in the near future. We are excited about this relationship, as well as its future potential," stated John A. DiBella, CEO of EVTN.
The water that is extracted from the ground with the oil is called produced water. Produced water comprises over 98% of the total waste volume generated by the oil and gas industry, making it the largest volume waste stream associated with oil and gas production. Oil reservoirs frequently contain large volumes of water and as oil wells mature, the amount of oil produced from the well decreases while the amount of water needed to be treated increases. In the continental United States, it is estimated that more than 10 barrels of water are produced for each barrel of recovered oil. The efficient separation of oil from produced water and the environmentally responsible treatment of the remaining water are critical processes in the production of oil. EVTN's Voraxial® Separator offers the industry an economical solution to treat this increasing volume of produced water.
Due to contractual agreements, often required by major corporations, the customer name is withheld.
About Enviro Voraxial Technology: EVTN (OTCOB:EVTN) is the developer and manufacturer of the Voraxial®Separator, a unique, patented, in-line turbo-separator that provides a cost effective method to efficiently separate large volumes of solids and liquids with different specific gravities and without the need of a pressure drop. The Voraxial® provides highly efficient bulk separation while requiring less space, energy and weight than conventional separators processing the same volume. The Voraxial®is capable of simultaneously separating up to three components, such as oil, water and sand. The Voraxial® can be used as a stand-alone separator or incorporated with other equipment to provide a complete turnkey solution that allows customers to treat a variety of fluid streams while reducing treatment cost and increasing separation efficiency.
The separation market encompasses a series of multibillion dollar segments, spread globally across many industries and applications. EVTN continues to pursue the oil & gas industry but is also processing proposals from other industries such as mining, food processing, manufacturing and oil spill industries. EVTN owns significant IP surrounding the Voraxial® and has new innovations under development. Please see www.evtn.com for additional information.
Safe Harbor Disclosure -- This Press Release contains or incorporates by reference "forward-looking statements," including certain information with respect to plans and strategies of Enviro Voraxial Technology, Inc. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including Enviro Voraxial Technology, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to Enviro Voraxial Technology, Inc. as of such date. There are a number of important factors that could cause actual events or actual results of Enviro Voraxial and its subsidiaries to differ materially from those indicated by such forward-looking statements.
CONTACT:
Enviro Voraxial Technology, Inc., Fort Lauderdale
Laura Healy: (954) 958-9968
E-mail: sales@evtn.com
Company web site: http://www.evtn.com
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